Termination of the common ownership of a property by several persons. The termination of the divided co-ownership of an immovable entails the extinction of the syndicate of co-owners, which must then be liquidated. The co-ownership may be terminated by a decision of the general meeting of the co-owners and the written consent of the hypothecary creditors of all co-owners.
The divided co-ownership of a building is not necessarily intended to last for eternity. The end of the co-ownership, and therefore the dissolution and liquidation of the syndicate, is justifiable, for various reasons. The dissolution of a co-ownership leads to a liquidation process. This process is regulated by articles 1108 and 1109 of the Civil Code of Québec, which refer to the rules applicable to legal persons concerning their liquidation.The question of putting an end to your co-ownership may one day arise. There are therefore various questions to be asked about this approach. What are the reasons for terminating a co-ownership? What are the modalities and consequences of a dissolution? Answers in this fact sheet!